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Turkey Feb. Current Account Deficit Drops More Than Expected

Turkey's current account deficit decreased more than economists expected in February, data released by the central bank showed Wednesday.

The current account deficit decreased to $4.217 billion in February from $5.926 billion in January. Economists were looking for a deficit of $4.7 billion.

The balance in the foreign trade account was a deficit of $4.066 billion in March, down from the $5.424 billion deficit seen in the previous month. At the same time, total deficit in the trade and income account dropped to $4.477 billion from $5.999 billion in the previous month.

Turkey's current transfers account showed a surplus of $260 million in March, compared to the $73 million surplus seen in the previous month.

In the two months ended February, the current account posted a deficit of 10.143 billion, lower than the $12.058 billion deficit seen in the same period last year.

by RTTNews Staff Writer

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